Catalyst Print Solutions Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: SC278365 (Scotland)

Catalyst Print Solutions Limited

Unaudited Financial Statements

for the Year Ended 31 December 2016

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

C D Wilkins

SECRETARY:

Mrs R Fowler

REGISTERED OFFICE:

Kenmure

Main Road

Dirleton

North Berwick

EH39 5EA

REGISTERED NUMBER:

SC278365 (Scotland)

ACCOUNTANTS:

Whitelaw Wells

9 Ainslie Place

Edinburgh

Midlothian

EH3 6AT

BANKERS:

The Royal Bank of Scotland

12 Westgate

North Berwick

EH39 4AF

FIXED ASSETS

Tangible assets

4

-

98

CURRENT ASSETS

Debtors

5

1,528

1,179

Cash at bank

8,850

6,751

10,378

7,930

CREDITORS

Amounts falling due within one year

6

10,194

7,740

NET CURRENT ASSETS

184

190

TOTAL ASSETS LESS CURRENT LIABILITIES

184

288

PROVISIONS FOR LIABILITIES

-

20

NET ASSETS

184

268

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

84

168

SHAREHOLDERS' FUNDS

184

268

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2016 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 28 September 2017 and were signed by:

C D Wilkins - Director

1.	STATUTORY INFORMATION

Catalyst Print Solutions Limited is a private company, limited by shares , registered in Scotland. The

company's registered number and registered office address can be found on the Company

Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents net invoiced sales of project management services, excluding value added tax.

Revenue is recognised as earned, and to the extent that the company has obtained the rights to the

consideration in exchange for these services, it is measured at the fair value of the right to

consideration, which represents amounts chargeable to customers excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Equipment - 25% on cost

Financial instruments

Financial instruments comprise financial assets and financial liabilities which are recognised when

the company becomes a part to the contractual provisions of th instrument. Financial instruments

are classified as "basic" in accordance with FRS102 and are accounted for at amortised cost using

the effective interest method The effective interest rate is the rate that exactly estimated future

cash flows over the life od the financial assets or liability to the net carrying amount on initial

recognition. Discounting is not applied to short-term receivables and payables, where the effect is

immaterial.

Financial assets at cost comprise cash and other debtors. Financial liabilities comprise bank and

other loans, accruals and other creditors.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income

Statement, except to the extent that it relates to items recognised in other comprehensive income

or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been

enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed

at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods

different from those in which they are recognised in financial statements. Deferred tax is measured

using tax rates and laws that have been enacted or substantively enacted by the year end and that

are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is

probable that they will be recovered against the reversal of deferred tax liabilities or other future

taxable profits.

Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial

instruments. Basic financial instruments are initially recognised at transaction value and

subsequently measured at their settlement value.

All loans with related parties are all repayable on demand.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2016

and 31 December 2016

2,548

DEPRECIATION

At 1 January 2016

2,450

Charge for year

98

At 31 December 2016

2,548

NET BOOK VALUE

At 31 December 2016

-

At 31 December 2015

98

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Amounts owed by participating interests

5

5

Other debtors

1,523

1,174

1,528

1,179

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Taxation and social security

8,993

6,539

Other creditors

1,201

1,201

10,194

7,740

7.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended

31 December 2016 and 31 December 2015:

2016

2015

£

£

C D Wilkins

Balance outstanding at start of year

939

1,213

Amounts advanced

8,000

10,250

Amounts repaid

(7,651

)

(10,524

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

1,288

939

The director's current account was repaid within 9 months of the year end.

8.	RELATED PARTY DISCLOSURES

C D Wilkins

During the year dividends of £35,200 (2015: £24,450) were paid to the director and his family.

2016

2015

£

£

Amount due from related party at the balance sheet date

1,287

939

Sporting Memories Network (Scotland) CIC

A company in which C D Wilkins is a shareholder

During the year, project management sales and expenses of £22,594 (2015 £8,100) were charged to

Sporting Memories Network (Scotland) in the year.

Sporting Memories Network CIC

A company in which C D Wilkins is a shareholder

During the year, project management sales and expenses of £45,000 (2015 £49,349) were charged

to Sporting Memories Network in the year. A balance of £5 was due to the company at the year

end.

2016

2015

£

£

Amount due from related party at the balance sheet date

5

5

Replay Sporting Memories Limited

A company in which C D Wilkins is a shareholder

During the year, project management sales and expenses of £3,000 (2015 £Nil) were charged to

Replay Sporting Memories Limited in the year.

9.	ULTIMATE CONTROLLING PARTY

The company was under the control of C D Wilkins, the sole company director, throughout the year.

10.	FIRST YEAR ADOPTION

In preparing the accounts, the director has considered whether in applying the accounting policies

required by FRS 102 a restatement of comparative items was needed. No restatements were

required. Accordingly, no reconciliation of opening balances or net income / (expenditure) for the

period has been prepared.